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- Global Supply Chain Pressure Index (Mar, Apr)
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Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
"Core" GDP Suggests Economy Gained Momentum in Q1:2022
by Tom Moeller April 23, 2019
Retail gasoline prices edged one penny higher last week to $2.84 per gallon last week (1.5% y/y). The uptick followed four months of strong increase. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price slipped three cents to $2.78 per gallon after rising five cents during the prior week.
West Texas Intermediate crude oil prices eased to an average of $63.80 per barrel last week (-5.6% y/y) from $64.09 during the prior week. Oil prices had plunged to an 18-month low of $44.55 at the end of last year. Yesterday, prices rose to $65.70 per barrel. Brent crude oil prices edged higher to an average of $71.69 per barrel last week (-1.6% y/y) and were $74.17 yesterday.
Natural gas prices slipped to an average of $2.65/mmbtu last week (-5.2% y/y) from $2.72/mmbtu during the prior week. Prices remained below the early-March high of $3.28/mmbtu.
In the four-weeks ending April 12, gasoline demand eased 0.2% y/y, while total petroleum product demand declined 3.7% y/y. Gasoline inventories decreased 3.4% y/y, while inventories of all petroleum products gained 2.1% y/y. Crude oil input to refineries fell 5.7% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 4/22/19 | 4/15/19 | 4/8/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.84 | 2.83 | 2.75 | 1.5 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 63.80 | 64.09 | 62.37 | -5.6 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.65 | 2.72 | 2.70 | -5.2 | 3.15 | 2.96 | 2.49 |